INSUBCONTINENT EXCLUSIVE:
The Biden administration has ended a six-month leniency period by reinstating oil sanctions on Venezuela.This action follows President
Treasury Department has announced that the relevant license for oil and gas production will expire soon, with a deadline set for May 31 for
officials concluded that Maduro did not fully honor this agreement, particularly failing to include opposition candidates.U.S
Reinstates Sanctions on Venezuela Citing Election Agreement Breaches
(Photo Internet reproduction)This conclusion led to the decision announced on April 17, following last-ditch efforts for a breakthrough,
which included discussions about possibly extending candidate registration deadlines.Sanctions were temporarily lifted in October after
blocking opposition leader Maria Corina Machado, among others, from running in elections.Additionally, his regime has faced implications of
suppressing dissent and detaining opposition figures.Only activities started during the temporary license period must now wind down, as
assure continuing operations as per the Barbados agreement.The return of sanctions closes a brief chapter that saw an influx of
oil-dependent economy reliant on foreign investment for infrastructure.Initial global oil market impact may be minimal, but sustained lack
which has been a significant factor in migration challenges at the U.S.-Mexico border.This complicates the political landscape for President
Biden in a high-inflation election year.
